Shares of travel-recommendation company TripAdvisor (NASDAQ:TRIP) declined on Friday, falling as much as 5.1%. The stock finished the trading day about 2.8% lower.
The stock's decline follows a sharp pullback in the stock price earlier this week as investors reacted to the company's first-quarter earnings release. Friday's decline is likely a continuation of this sell-off, as analysts are cutting their 12-month price targets on the stock.
On Tuesday, TripAdvisor announced first-quarter revenue of $376 million. This figure was down 1% year over year and missed analysts' consensus forecast by more than $10 million.
TripAdvisor's non-GAAP net income, however, increased a nice 21% year over year over the same time frame.
On Thursday, analysts from DA Davidson, Wedbush, and Barclays all lowered their price targets by $7 or more, according to TheFly, although DA Davidson and Wedbush maintained their neutral ratings for the stock and Barclays kept an overweight rating.
For the current quarter, TripAdvisor said in its first-quarter earnings call that April was "a little slower than we expected, so we saw some continuation of trends, we didn't see the robust pickup that we saw a year earlier." But management also said it expects things to pick up in the second half of the year.
Shares declined a total of 13.8% during the week.